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What amount would Athlon Company receive as dividends

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Problem - On January 1, 2019, Athlon Company acquired 30 percent of Opteron Corporation's common stock, at underlying book value of $100,000. Opteron has 100,000 shares of $2 par value, 5 percent cumulative preferred stock outstanding. No dividends are in arrears. Opteron reported net income of $150,000 for 2019 and paid total dividends of $72,000. Athlon uses the equity method to account for this investment. Based on the preceding information, what amount would Athlon Company receive as dividends from Opteron for the year 2019?

Reference no: EM132839566

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